Coinbase Global (NASDAQ:COIN) PT Raised to $276.00

Coinbase Global (NASDAQ:COIN) had its price target lifted by research analysts at Oppenheimer from $200.00 to $276.00 in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has an “outperform” rating on the cryptocurrency exchange’s stock. Oppenheimer’s target price would suggest a potential upside of 14.57% from the stock’s current price.

Several other brokerages also recently issued reports on COIN. Canaccord Genuity Group reissued a “buy” rating and issued a $240.00 price objective on shares of Coinbase Global in a research note on Thursday, March 28th. Mizuho raised their target price on shares of Coinbase Global from $60.00 to $84.00 and gave the stock an “underperform” rating in a research report on Thursday, February 22nd. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. The Goldman Sachs Group raised shares of Coinbase Global from a “sell” rating to a “neutral” rating in a research report on Friday, March 8th. Finally, TheStreet raised shares of Coinbase Global from a “d” rating to a “c-” rating in a research report on Friday, February 16th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $148.60.

Coinbase Global Stock Down 3.5 %

Shares of NASDAQ:COIN opened at $240.90 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. Coinbase Global has a 12 month low of $46.43 and a 12 month high of $283.48. The company has a 50-day moving average price of $203.47 and a 200 day moving average price of $144.42. The company has a market cap of $58.36 billion, a price-to-earnings ratio of 892.22 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $1.13. The business had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.46) earnings per share. As a group, equities research analysts predict that Coinbase Global will post 1.8 earnings per share for the current year.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,257 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the completion of the transaction, the insider now directly owns 66,122 shares in the company, valued at $18,223,223.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $243.30, for a total transaction of $3,985,254.00. Following the completion of the sale, the director now owns 4,662 shares of the company’s stock, valued at approximately $1,134,264.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,257 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the sale, the insider now directly owns 66,122 shares of the company’s stock, valued at approximately $18,223,223.20. The disclosure for this sale can be found here. Insiders sold 742,995 shares of company stock worth $116,023,946 over the last three months. Company insiders own 33.16% of the company’s stock.

Institutional Trading of Coinbase Global

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Coinbase Global by 19.8% in the 3rd quarter. Vanguard Group Inc. now owns 12,786,266 shares of the cryptocurrency exchange’s stock valued at $824,587,000 after buying an additional 2,110,196 shares during the period. Norges Bank purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $50,254,000. Quadrature Capital Ltd purchased a new stake in shares of Coinbase Global in the 2nd quarter valued at approximately $93,815,000. Price T Rowe Associates Inc. MD boosted its position in shares of Coinbase Global by 741.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,342,039 shares of the cryptocurrency exchange’s stock worth $233,408,000 after purchasing an additional 1,182,556 shares during the period. Finally, a16z Perennial Management L.P. purchased a new position in shares of Coinbase Global during the 4th quarter worth approximately $147,646,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Company Profile

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.